Bradford Shellhammer
About Bradford Shellhammer
Bradford Shellhammer is the Chief Product & Marketing Officer (CP&MO) at Rent the Runway (RENT). He joined as Chief Product Officer in October 2024 and was elevated to CP&MO in January 2025 . Age 48; education includes a B.A. in Communications and Media Studies (Goucher College) and an A.A.S. in Fashion Design (Parsons School of Design) . Company context during FY2024: revenue was $306.2M (+2.7% Y/Y), Adjusted EBITDA $46.9M (15.3% margin), and net loss $(69.9)M; subscribers ended FY2024 at 164,004 total, 119,778 active .
Company performance (FY2023 → FY2024):
| Metric | FY 2023 | FY 2024 |
|---|---|---|
| Revenue ($USD Millions) | $298.2 | $306.2 |
| Gross Profit ($USD Millions) | $119.7 | $115.9 |
| Net Loss ($USD Millions) | $(113.2) | $(69.9) |
| Adjusted EBITDA ($USD Millions) | $26.9 | $46.9 |
| Adjusted EBITDA Margin (%) | 9.0% | 15.3% |
| Ending Active Subscribers | 125,954 | 119,778 |
| Ending Total Subscribers | 173,247 | 164,004 |
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Reverb (Etsy subsidiary) | Chief Product Officer | Jun 2022 – Oct 2024 | Led product for the largest online marketplace for musical instruments |
| eBay | Senior/executive roles incl. leading global buyer experience product, eBay for Charity, curation & merchandising | Feb 2016 – Jun 2022 | Drove product personalization, mobile, and fashion/category focus |
| Fab.com; Bezar; Queerty | Founder | n/d | Founded multiple high-growth consumer startups |
External Roles
None disclosed (no public company board seats or committee roles noted in filings) .
Fixed Compensation
Not disclosed for Shellhammer in public filings. Named executive officer cash compensation disclosures cover CEO, CFO, and CMO (Tam) but do not include Shellhammer .
Performance Compensation
Not disclosed specifically for Shellhammer. Company-wide FY2024 annual bonus design used net revenue and free cash flow metrics (100% weighting for CEO/CFO; 70% company metrics + 30% individual for CMO), with actual payouts below target before Committee discretion; uncertainty remains on Shellhammer’s personal metrics/weighting .
Incentive plan architecture post-recapitalization (context):
- Amended 2021 Plan increased share pool and extended term; initial grants contemplated for continuing executive officers and VP+ employees, structured 50% RSUs and 50% PSUs; RSUs vest 25% at first anniversary then quarterly to year 4, PSUs tied to performance periods FY2027–FY2029 (employment through end of FY2029 required) . Executives must forfeit outstanding awards to receive Initial Grants; applicability to Shellhammer not explicitly enumerated (filings reference “continuing executive officers”) .
Equity Ownership & Alignment
| Item | Detail |
|---|---|
| Initial ownership | Form 3 (Nov 5, 2024) reported no securities beneficially owned at the time of appointment |
| Trading plan | Adopted a Rule 10b5-1 arrangement on Dec 16, 2024 solely to sell shares to cover withholding taxes upon RSU vesting; no termination date (designed as affirmative defense under Rule 10b5-1(c)) |
| Pledging/Hedging policy | Insider Trading Policy prohibits pledging without prior Board approval and prohibits hedging for current employees/directors |
| Clawback | Company maintains a Policy for Recovery of Erroneously Awarded Compensation (clawback) in line with SEC/Nasdaq rules |
Employment Terms
- Role timeline: appointed Chief Product Officer in Oct 2024; expanded remit to CP&MO in Jan 2025 .
- Severance/change-in-control: Company maintains an Executive Severance Plan for senior employees (named executive participants disclosed: CFO and CMO), with specific severance multiples and COBRA; CEO has a separate employment agreement with two-times salary+bonus severance and equity acceleration constructs; Shellhammer’s participation level/terms are not disclosed .
- Non-compete/non-solicit/garden leave: No specific contractual provisions disclosed for Shellhammer in filings.
Investment Implications
- Alignment and selling pressure: At appointment, Shellhammer reported no beneficial ownership; subsequent 10b5-1 plan is narrowly scoped to tax-withholding sales upon RSU vesting, reducing discretionary selling pressure signals. No pledging/hedging allowed under policy—positive for alignment risk management .
- Retention risk vs incentive structure: Post-recapitalization Amended Plan emphasizes multi-year retention through four-year RSU vesting and three-year PSU performance windows (FY2027–FY2029), potentially bolstering retention across executives if Shellhammer is a continuing executive officer grantee; however, individual grant size and performance metrics are not disclosed, limiting pay-for-performance assessment at the executive level .
- Governance/context change: The October 2025 recapitalization led to a change of control and board reconstitution; Investor Group now holds a controlling stake and the company may rely on “controlled company” exemptions in future, which could alter compensation/governance oversight mechanics—monitor for impacts on incentive rigor and disclosure quality .
Note: Disclosures for Shellhammer’s base salary, target/actual bonus, option/RSU/PSU grant sizes and vesting details, severance specifics, and ownership guideline compliance are not provided in public filings. Where company-wide policies and programs are cited, they serve as context rather than Shellhammer-specific terms .
Performance Compensation (Company Program Context)
| Component | Key Terms (FY2024) | Applicability |
|---|---|---|
| Annual Bonus | CEO/CFO: 100% based on net revenue & free cash flow; CMO: 70% company metrics, 30% individual; payouts below target with discretion increases | Shellhammer-specific weighting/payout not disclosed |
| Amended 2021 Plan (Initial Grants) | 50% RSUs (25% at year 1, then quarterly to year 4); 50% PSUs (performance periods FY2027–FY2029; employment through FY2029 required) | Available to continuing executive officers & VP+ employees; Shellhammer’s grant not individually disclosed |
Equity Ownership & Trading Signals (Detail)
| Date | Filing/Policy | Disclosure |
|---|---|---|
| 10/29/2024 | Form 3 | “No securities are beneficially owned.” |
| 12/16/2024 | Rule 10b5-1 plan | Plan only for sales to satisfy minimum required taxes on RSU vesting; no termination date |
| Ongoing | Insider Trading Policy | No hedging; pledging only with prior Board approval |
| Ongoing | Clawback Policy | Recovery of certain incentive compensation in restatement scenarios |
About Bradford Shellhammer – Role & Product Focus (Qualitative)
Management highlighted Shellhammer’s focus on growth, prospect conversion, subscriber experience, and product improvements including faster-loading grids and UX boosts (e.g., Apple Pay), consistent with initiatives to improve onboarding and loyalty .
Sourcing Notes
- Executive biography, age, and role history: DEF 14A (May 22, 2025)
- Company performance and subscriber metrics: DEF 14A (FY2024 highlights) and Annex A Adjusted EBITDA reconciliation
- Trading plan and initial ownership: 10-K Item 9B (Apr 15, 2025) and Form 3 (Nov 5, 2024)
- Policies: Insider Trading Policy and Clawback Policy (proxy governance section)
- Incentive plan architecture: Special Meeting DEF 14A (Sept 29, 2025)
- Governance/recapitalization context: 8-K (Oct 29, 2025)